The Akinyele Local Government stretch of the newly reconstructed 65-km Ibadan-Iseyin road has become the new hot spot for the real estate players in Oyo State.
If you have been taking that route recently, you must have noticed the huge presence of estate developers on both sides of the road.
Most of them are trying to make their presence felt either by putting up signboards or perimeter fencing to sell their brands.
That is where both the existing and new estate developers are now rushing to in order to acquire land enmasse. New estates are springing up on a daily basis. The axis has become a construction site as many of these estates are already erecting gates and fences on their land.
City People’s investigation reveals that most of the land by the road, even almost up to Iseyin, have been sold. And prices of land skyrocketed as a result of the massive influx of these estate developers around places like Moniya, Ijaye, Alabata and Olorisaoko and so on.
We found that an average plot of land is now sold for #800,000, depending on the location of the land. While getting a plot in any of the estates cost between #2,000,000 and #5,000,000 and above.
Of course, while many people want to believe that the mad rush for land acquisitions in this axis is as a result of the good road, as driving from Ibadan to Iseyin is now less stressful. With the present state of the road, it takes approximately 45 minutes to drive from Moniya to Iseyin.
But beyond the good road, there are many other reasons why estate developers throng the axis. Most of them see Ibadan-Iseyin road as the next business location.
This is where the proposed ‘Ilutuntun’ project of the Oyo State Government is located. According to governments plan, Ilutuntun is a Business District that covers about 2,000 hectares of land. The land doesn’t only link to Oyo-Ogbomoso road but also connects Oyo-Iseyi part of the road.
When fully executed, Ilutuntun will have modern commercial office buildings, five-star hotel, world class retail shopping malls, industrial parks, various workshops and other amenities for the comfort and convenience of residents and visitors alike.
According to Oyo State Government, “the Ilutuntun Business District is designed to be a world class Business District, built to attract both local and foreign Investments to the state, create employment opportunities for residents, and further boost the economy of the state.
“With the Ilutuntun Business District, Oyo State is set to become an investment destination for investors across the globe.
“As the district continues to grow, businesses and investors are guaranteed an excellent return on investment.”
Apart from the proposed Ilutuntun, there is also Federal Government low cost housing estate called Apapa Estate, Moniya, in the same axis.
Also around this route, we have the Moniya Train station, as well as the ongoing Ibadan Inland Dry Port project.
– Dare Adeniran
08057639079
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